Project Management

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Topic

    Phani Vajha
    Fusion Financials: Best Practice to Track Transactions by...Answered
    Topic posted September 9, 2014 by Phani VajhaRed Ribbon: 250+ Points, last edited January 30, 2019, tagged Financials 
    176 Views, 4 Comments
    Title:
    Fusion Financials: Best Practice to Track Transactions by PROJECTS
    Summary:
    We would like to track AP Invoice expenses by Projects. However, we do not want to implement Project module for this need. I would like to know the options to track tansactions for projects.

    Best Comment

    Kumaran Raviprakash

    There are multiple approaches which you can use either in the form of Chart of Accounts Segment or a DFF on the invoice or a EFF.

    Tracking through a segment in chart of accounts gives a better flexibility while reporting,whereas doing the same as a DFF or EFF we may have to get our reports customized and also use those specific DFF segments for tracking.

    Comment

     

    • Jan Groenen

      Hi we are doing the same! We added a DFF on the expense report lines and we have added a segment in our accounting string that holds the Project code values. 

      When the accounting is generated for the expense lines we populate the project number from the expense line DFF into the project segment of the project segment in our accounting flexfield.

      Regards,

       

      Jan Groenen

       

      • Phani Vajha

        Just confirming your approach. You have "Projects Segment" in your Chart of Accounts and you have SLA rules that copy the project number from the expense lines and populate accounting string when Create Accounting process is initiated.

        Is there any other approach if we cannot have a segment in the chart of accounts?

    • Jan Groenen

      Correct that was our approach.

    • Kumaran Raviprakash

      There are multiple approaches which you can use either in the form of Chart of Accounts Segment or a DFF on the invoice or a EFF.

      Tracking through a segment in chart of accounts gives a better flexibility while reporting,whereas doing the same as a DFF or EFF we may have to get our reports customized and also use those specific DFF segments for tracking.